‘The business of business is business’ (Milton Friedman, 1970, New York Time magazine)
Build a strong brand image
-Branding is at the centre of reputation management, it requires a clear corporate mission and philosophy.
-Trust and credibility from public are indispensable to build a strong brand image (Schweizer & Wijnberg, 1999).
-Brand personality and identity must be clearly understood by each stakeholders to portray the brand values.
-The culture and values of a brand are a key part of the brand image.
Improve Financial performances
-Good reputation leads to higher customer retention (Caminiti, 1992; Preece et al., 1995) so increase repurchasing.
-Customers are willing ...view middle of the document...
Increase employees satisfaction
-Great place to work=Great place to buy=Great place to invest
-Employees are a key stakeholder in the success of corporate brand, they promote the company’s brand values.
-Need a strong level of job satisfaction, a feeling of pride, an effective commitment and awareness of their impact on corporate reputation (Sabrina Helm, 2010).
-Good reputation attracts and retain good employees.
-Responsibility of corporate communication is to MANAGE the way stakeholders perceived an organisation.
-Nike uses different ways of communication for each stakeholders (press release, advertising, internal communication, speeches, website, media relation, company’s publication, financial reports).
-Nike storytelling program: ‘The Nike story? Just tell it !’
Aims: Brings emotional dimension to corporate communication, helps people understand the organisation and create a personal connection.
-Visual identifiers to support reputation (Logo, slogan, name) which represent the company’s values and culture (link between culture and brand, Parker & Bradley, 2000).
-These visual artefacts help recognition and portray authenticity
-Sponsorship as a way of building brand awareness and differentiate themselves from competitors (Cornwell et al.,2005).
-But also to be associated with the values of the event sponsored (image transfer theory, Gwinner, K., 1997 ).
-Recent celebrity endorsement with Rory McIlroy: Helps to improve reputation and brand image as Nike is associated with an athlete that matches the brand identity and personality.